Today acclaimed commodity trader Dan Norcini told KWN, “One spark for gold may be at some point in August we begin to have rumors about what is going to happen at the Jackson Hole meeting. The first round of QE was announced during that Jackson Hole Summit in late 2008. So the upcoming meeting may wind up being very significant when it comes to which direction central planners are going to take.
You may very well get a lift in gold based on the type of monetary response that may come out of Jackson Hole. The other situation which could escalate and have a huge impact in the key markets, particularly crude oil and gold, is the disintegration that is taking place in Syria.
If the war begins to engulf a broader scope of the Middle-East, bringing Israel and Iran into conflict, that powder keg could create an explosion higher in the price of both crude oil and gold…. ”